Stocks

Airtel garners over ₹5,200 crore from first tranche of payment in rights issue

PTI New Delhi | Updated on October 28, 2021

The applicants paid ₹133.75 per share

Bharti Airtel is estimated to have garnered over ₹5,200 crore from the first round of payment in its recently-concluded rights issue, as the telco's special committee approved allotment of 39.2 crore equity shares to eligible applicants.

The applicants paid ₹133.75 per share on application, with the balance sum to be paid in two more additional calls as may be decided by the board, the company said in a regulatory filing.

"...the special committee of directors for rights issue, at its meeting held today...approved the allotment of 392,287,662 rights equity shares to the eligible applicants, with ₹133.75 paid on application and balance to be paid in two more additional calls...," the filing said.

This implies that Airtel has raised an estimated ₹5,243 crore from the initial tranche.

Pursuant to the allotment, the paid-up equity share capital of the company has also increased.

"...the paid-up equity share capital of the company has increased from ₹27,460.14 million to 27,950.49 million consisting of 5,492,027,268 fully paid-up equity shares of ₹5 each and 392,287,662 partly paid-up equity shares (₹1.25 partly paid-up)," it added.

Bharti Airtel's about ₹21,000 crore rights issue had opened on October 5 and closed on October 21, 2021, and was oversubscribed.

Published on October 28, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like